Insurance brokers tasked on data for efficiency

Insurance brokers in Nigeria have been urged to work more with data to explore areas that are untapped in the sector.

In an event organised by the Nigerian Council of Registered Insurance Brokers (NCRIB), Abuja Area Committee and African Alliance in Abuja, a guest speaker, Ejerete Ola Gam-Ikon, stated that lack of use of data by insurance brokers had limited their penetration of the insurance market.

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Gam-Ikon noted that the perforation of digitisation in every sector underscored the need for a new approach to business.

Gam-Ikon said, “The time of doing business without numbers has gone. We should no longer sit and wait for government tenders because we are in the business of numbers. I want us to change our approach to business; let us begin to deal with business from the point of numbers.”

“Are you aware that a fire can start in a building without starting matches? Cybercrime is with us, what are we doing in that area? There are new areas we can engage in to make money from.”

The President of NCRIB, Bola Onigbogi, said being complacent by brokers was the reason they were not included in key government decisions.

She, therefore, vowed to inaugurate a think tank to look into ways interest of insurance brokers would be protected.

The MD/CEO of African Alliance, Joyce Ojemudia, disclosed that the company had survived for six decades owing to its innovative ideas in serving its customers.